Volkswagen to cut up to 7,000 jobs at VW brand

14 March, 2019, 12:47 | Author: Billie Castillo
  • Volkswagen accelerates electric car push

German automaker Volkswagen said Tuesday it plans to ramp up its production of electric vehicles over the next ten years to 22 million and reduce its carbon footprint over vehicle life cycles by 30 per cent.

The profit margin at its core VW brand slipped to 3.8% a year ago, down from 4.2%, as higher investments into electric cars and challenges getting combustion-engined vehicles certified ate into profits.

Volkswagen has struggled to raise profitability at the VW brand for years.

The VW brand is targeting a 6 percent margin in 2022.

The new cost cutting drive is a continuation of Volkswagen's 3 billion euros Zukunftspakt savings plan.

Browns' acquisition of Odell Beckham, Jr. could put them over the top
Oddsmakers projected the point spread on that game would be anywhere from Patriots -3.5 to -4.5, potentially a little higher. Despite a disgusting 0-16 2017 campaign, the Browns are loaded on offense and could be a serious threat next season.

Previously, the company said it would aim for 15 million.

"We will significantly step up the pace of our transformation so as to make Volkswagen fit for the electric and digital era", said Ralf Brandstätter, chief operating officer for the VW brand. The brand has achieved €2.4bn in savings so far and a net reduction of more than 6,300 positions, despite adding 2,700 jobs including in software operations, VW said Wednesday.

VW's electric auto portfolio is limited at the moment, but the company hopes to sell at least 1 million battery-powered vehicles by 2025.

Volkswagen states that first adopters of the I.D. will receive special, launch-edition cars, but has not specified how these will stand out from subsequent models. Diess, who also heads up the VW brand, has been axing slow-selling models and auto variants to reduce complexity.

The first electric auto on the platform - the "ID" - will hit showrooms in 2020 and VW expects the launch edition to sell out, VW's board member for sales Juergen Stackmann said.

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